After the Market Segmentation Process,the Marketing Manager's Next Task Is

question 147

Essay

After the market segmentation process,the marketing manager's next task is to select one or more target markets.There are three general strategies for selecting target markets.Name and briefly define each of the three strategies.For each strategy,name one advantage and one disadvantage of using the strategy.

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Definitions:

Manufacturing And Operations

The processes involved in producing goods and managing their production in factories or plants.

Finished Product

The final output of a manufacturing process, ready for sale or distribution to the end-user.

Gross Margin

A company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage, indicating the financial health and profitability of a product or service.

Marketing Plan

A comprehensive strategy outlining an organization's advertising and marketing efforts, including target markets, marketing objectives, and initiatives to achieve them.